Slowing GDP Growth Hurts Taiwan Dollar

April 30th, 2013 at 9:18, Vladimir Vyun

The Taiwan dollar weakened today after data showed that the first quarter’s growth of the country’s economy was slower than analysts have anticipated.

Taiwan gross domestic product expanded 1.54 percent in the first quarter of 2013. The increase trailed the forecast of 3.1 percent and the advance of 3.72 percent in the previous three months. The slowing growth led to concerns that the global economic slowdown will continue to harm emerging economies, reducing demand for their assets.

USD/TWD rose from 29.4470 to 29.5345 as of 9:16 GMT today.

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